U of M will not seek tuition increase for 2014-2015 school year

(WMC-TV) – The University of Memphis will not seem a tuition increase for the 2014-2015 school year.

U of M students saw a 6 percent tuition increase last school year and a 7 percent increase the previous school year. Over the past 10 years, the tuition increase has averaged about 7.3 percent each year.

"Despite annual tuition increases, which have been the norm nationally, the University of Memphis is still a good value," said U of M interim president R. Brad Martin in a written statement. "And we will be even better value next year."

More than 21,000 students are enrolled at the University of Memphis. Currently, in-state undergraduates are paying $4,151 per semester. Out-of-state undergraduates pay $11,507 per semester.

"Affordability is a key element of student access and successful degree completion at the University of Memphis," said Martin. "Accordingly, tuition at the University of Memphis will not increase for the 2014-15 year. Effective allocation of available resources and improved efficiencies at the University will permit this to occur while we focus on serving more students and improving graduation rates."